Reinsurance Group of America (NYSE:RGA) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Reinsurance Group of America (NYSE:RGA) from a hold rating to a buy rating in a report issued on Thursday morning.

A number of other equities research analysts also recently commented on the stock. Barclays lowered their price target on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Jefferies Financial Group boosted their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Piper Sandler raised their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Evercore ISI boosted their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.62.

Reinsurance Group of America Price Performance

RGA stock opened at $216.82 on Thursday. The stock’s 50 day moving average price is $214.55 and its 200 day moving average price is $207.51. The firm has a market cap of $14.27 billion, a P/E ratio of 16.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America has a 1 year low of $144.74 and a 1 year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $4.40 earnings per share. On average, sell-side analysts expect that Reinsurance Group of America will post 21.8 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.89 per share. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio is 27.66%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Reinsurance Group of America

Several institutional investors have recently added to or reduced their stakes in RGA. Zurich Insurance Group Ltd FI boosted its holdings in shares of Reinsurance Group of America by 681.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after buying an additional 442,883 shares during the period. Millennium Management LLC boosted its stake in Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after acquiring an additional 133,212 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $24,918,000. Earnest Partners LLC raised its position in shares of Reinsurance Group of America by 4.2% during the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock worth $497,226,000 after purchasing an additional 104,256 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Reinsurance Group of America by 57.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 232,773 shares of the insurance provider’s stock worth $44,897,000 after purchasing an additional 84,647 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.